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Showing 1 to 3 of 3 for “"Fiscal Limit"”.
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Essays on Sovereign Debt Crisis
… debts rather than willingness of repayment. The fiscal limit is defined as the sum of discounted future primary surplus under the tax rate to maximize tax revenue. When the debt outstanding exceeds the fiscal limit, the government falls into debt crisis. The economic contraction in the crisis …
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Essays on Sovereign Debt Crisis
… debts rather than willingness of repayment. The fiscal limit is defined as the sum of discounted future primary surplus under the tax rate to maximize tax revenue. When the debt outstanding exceeds the fiscal limit, the government falls into debt crisis. The economic contraction in the crisis …
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Essays on Macroeconomic Implications of International Capital Flow and Fiscal Uncertainty
… transfer payments. I employ a DSGE model with a fiscal limit-- a point where higher taxation is no longer a feasible financing for this study.